Used in organic synthesis as a key intermediate for the preparation of various pharmaceuticals and agrochemicals. It is particularly valuable in Suzuki-Miyaura cross-coupling reactions, enabling the formation of carbon-carbon bonds to create complex organic molecules. This compound is also employed in the development of materials for organic electronics, such as OLEDs, due to its ability to modify the electronic properties of conjugated systems. Additionally, it serves as a building block in the synthesis of bioactive compounds for drug discovery and development.